Solana (SOL) is a decentralized finance (DeFi) network that values transaction capacity and efficiency. This appears to be paying off, as the network recently reached the impressive milestone of a staggering 100 billion processed transactions.
Solana is doing good business
At the time of writing, the precise amount of transactions processed by the Solana blockchain is breathtaking 100,040,913,433. This while the cost of a single transaction is almost negligible at $0.00025 per transaction. This data proves that Solana lives up to its word when it comes to massive transaction capacity.
With these properties, the Solana network hopes to be able to compete with the Ethereum (ETH) network. For the time being, it is precisely the transaction capacity of this network that is lacking. Solana obviously hopes to take advantage of this.
Problems for Solana
However, it has not been all roses and moons for the Solana network lately. For example, the network has recently experienced some problems. Several times the network even went completely off the air for a certain period of time.
Earlier this month it was altcoin news to read that the founder of Solana, Anatoly Yakovenko, these persistent problems a curse’ for the network.
Since its launch in 2020, the Solana network has experienced at least seven major outages, with a total of five major events in 2022 alone. In September 2021, due to a major outage, the network was completely off the air for at least 17 hours.
“I think that was our curse, but it’s because the network is so cheap and fast that there are plenty of users and applications powering it.”
Nevertheless, the figures produced by the network are nothing short of impressive. Passing the milestone of 100 billion processed transactions means that in addition to some problems here and there, a lot of things are also going very well.
